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12th Standard Economics National Income English Medium Free Online Test One Mark Questions 2020 - 2021

12th Standard

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Economics

Time : 00:20:00 Hrs
Total Marks : 20

    Answer all the questions

    20 x 1 = 20
  1. Net National product at factor cost is also known as

    (a)

    National Income

    (b)

    Domestic Income

    (c)

    Per capita Income

    (d)

    Salary

  2. National income is measured by using_______ methods.

    (a)

    Two

    (b)

    Three

    (c)

    Five

    (d)

    Four

  3. Per capita income is obtained by dividing the National income by__________

    (a)

    Production

    (b)

    Population of a country

    (c)

    Expenditure

    (d)

    GNP

  4. NNP stands for___________

    (a)

    Net National Product

    (b)

    National Net product

    (c)

    National Net Provident

    (d)

    National Net Provident

  5. The value of NNP at production point is called_________

    (a)

    NNP at factor cost

    (b)

    NNP at market cost

    (c)

    GNP at factor cost

    (d)

    Per capita income

  6. The value of national income adjusted for inflation is called_________

    (a)

    Inflation Rate

    (b)

    Disposal Income

    (c)

    GNP

    (d)

    Real national income

  7. PQLI is the indicator of_____________

    (a)

    Economic growth

    (b)

    Economic welfare

    (c)

    Economic welfare

    (d)

    Economic development

  8. GNP stands for

    (a)

    Net National Product

    (b)

    Gross Net Product

    (c)

    Gross Net Provident

    (d)

    Gross National Product

  9. Formula for calculating NNP at factor cost.

    (a)

    \(\frac{Nominal\ GDP}{Real\ GDP}\times 100\)

    (b)

    NNP at Market Prices - Indirect taxes + Subsidies.

    (c)

    GNP - Depreciation allowance

    (d)

    Output = Income = Expenditure

  10. National Income provides a comprehensive measure of _________ activities of a nation.

    (a)

    Economic activity

    (b)

    Production activity

    (c)

    Consumption activity

    (d)

    Industrial activity

  11. GNP includes __________ types of final goods and services.

    (a)

    Two

    (b)

    Four

    (c)

    Five

    (d)

    Three

  12. NNP at factor cost = NNP at Market Price - ________ + Subsidies.

    (a)

    Direct taxes

    (b)

    Canons of taxes

    (c)

    Indirecttaxes

    (d)

    None of these

  13. Output = Income = _________

    (a)

    Price

    (b)

    Expenditure

    (c)

    Income

    (d)

    None of these

  14. _______ are excluded from national income.

    (a)

    Capital Gains

    (b)

    Social Accounting

    (c)

    Statistical Problems

    (d)

    None ofthese

  15. The per capita income of an economy can be calculated by __________.

    (a)

    Dividing GDP by population

    (b)

    Dividing GNP by population

    (c)

    Multiplying GNP by population

    (d)

    Dividing GNP by number of people employed

  16. National income per person is used as an indicator of________.

    (a)

    standard ofliving of people

    (b)

    poverty of the people

    (c)

    the richness of people

    (d)

    growth of industrialisation

  17. _________ is the total value of output produced and income received in a year by domestic residence of a country.

    (a)

    GDP

    (b)

    NNP

    (c)

    NDP

    (d)

    GNP

  18. According to the year 2001, Indian per capita income is _________ dollar.

    (a)

    520

    (b)

    460

    (c)

    240

    (d)

    900

  19. Transfer earnings is referred to ______.

    (a)

    Pension payments to retired persons

    (b)

    Income paid as rent to landlord

    (c)

    An interest payments to a capitalist

    (d)

    Medical payments made to an employee of a company

  20. GDP= ___________

    (a)

    GDP at Market Price + Net factor income from abroad

    (b)

    GDP = \(\frac{Normal\ GDP}{Real\ GDP}\times100\)

    (c)

    GDP = GNP + Net factor income from abroad

    (d)

    All the above

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